The four existing Lam properties under management by Marshall are part of an August 2007 agreement for Marshall to provide services to accelerate the Lams' planned development in New York City. Marshall also manages the Lams' 158-key Four Points by Sheraton Manhattan Chelsea at 160 W. 25th St. and the 154-key Fairfield by Marriott at 52-34 Van Dam St. in Long Island City.

In a release, Michael Marshall, president and CEO of Marshall Management, says his company has "a strong demand for mid-market, moderately sized, value-priced properties in the Manhattan market, and the Lam projects are perfectly suited to tap into this market." He adds that his company plans to highlight the "unique interior design" of the two Soho properties "to attract both leisure and business guests."

A Marshall spokesman tells GlobeSt.com that the Lams' Four Points by Sheraton Midtown-Times Square at 326 W. 40th St. is slated to open in three months; the Starwood Hotels website lists an opening date of March 26, 2009 for the property. The Fairfield Inn Times Square, next door at 330 W. 40th St., is slated to open in two months, the spokesman says. The Lam Group, run by CEO John Lam, and Lam Generation, run by his son Jeffrey, currently operate hotels in Manhattan, Brooklyn and Queens and have others in development.